06.24.2025

Market Insights – 6/24/25

Wholesale Prices, Week Ending June 21st, 2025

The Canadian used wholesale market saw a decline of -0.19% in pricing for the week. Car segments prices decreased by –0.06% while the Truck/SUV segments decreased by -0.29%. The only positive segment was Full-Size Crossover at +0.14%. The largest declines in the Car segments were seen in Full-size Car at -0.19% and Compact Car with -0.16%. The largest declines in the Truck/SUV segments were Compact Van at -1.02% followed by Mid-Size Crossover/SUV with -0.63%.

Car Segments

• Car segments saw a modest overall decline last week. Values fell slightly by an average of 0.06%. Eight out the nine tracked categories experienced a depreciation.
• The most notable drops were recorded in Full-Size Car (-0.19%), Compact Car (-0.16%) and Near Luxury Car (-0.10%).
• One segment remained stable showing no change in values. That segment was Sporty Car.

Truck / SUV Segments

• Truck segments experienced an average depreciation of-0.29% last week, with ten out of thirteen categories posting declines.
• The largest dives appeared in compact Van (-1.02%), Mid-Size Crossover/SUV (-0.63%), Sub-Compact Luxury Crossover (-0.52%) and Full-Size Van (-0.50%).
• One segment defied the trend and noted a modest increase. That segment was Full-Size Crossover/SUV (+0.14%).

Wholesale

The Canadian market’s decrease in pricing continues with a decline less pronounced than in its previous week. The decline in car segment values decreased by 0.04% resting at -0.06%, while the decline in truck segment prices also decreased overall by 0.01% bringing its change to -0.29%. Just over 29% of the market segments experienced an average value change of more than ±$100. Monitored auction sale rates ranged from 21.3% to 68.1% averaging at 35.9%. There has been a continuous fluctuation in sale rates across various auction lanes that can be attributed several factors including ongoing political variances and the gradual change in floor prices. Supply has remained high in comparison to prior weeks; however upstream channels continue to gain early access. There continues to be a high demand on both sides of the border for an increase in inventory and vehicles at auctions.

Used Retail Prices & Listing Volume

The average listing price for used vehicles is slightly decreasing, as the 14-day moving average was at $37,500. This analysis is based on approximately 220,000 used vehicles listed for sale on Canadian dealer lots.

Market Insights

Economics & Government

• The price of oil has edged up over $70 USD a barrel over the past few days on
  the heels of the renewed conflict between Israel and Iran. With the summer
  driving season upon us, look for prices at the pump to move higher as well.
• After meeting in person at the G7 Summit in Alberta on Monday, Prime Minister
  Carney and US President Trump decided to come up with a new trade and
  security agreement within the next 30 days.
• A new Survey from the Healthcare of Ontario Pension Plan shows that nearly
  60% of Canadians are worried they will never be able to retire. Respondents
  reported feeling anxious, fearful and sad about their finances with these concerns
  becoming more intense over the past year.
• The yield on the Canadian 10-year government bond increased to 3.65%.
• The Canadian dollar is around $0.731 this Monday morning, unchanged from
  $0.731 a week prior.

U.S. Market

• The overall market continues to decline, though the pace is stabilizing and aligning with typical seasonal depreciation. Retail demand for used vehicles has slowed, as days-to-turn has risen steadily throughout June, nearing 40 days compared to the low-30-day range earlier in the month.

Industry News

• Mazda Canada CEO, David Klan will be retiring this year after 33 years with the brand. In his place current Senior Director and COO, Amy Fleming will be taking over leading duties as of October 1st as the second Canadian to lead the brand, but the first woman to hold the position.
• Toyota Motor Manufacturing Canada will be installing battery pack lines in its facility, which will bethe first time the process for final assembly of batteries will come to Ontario assembly facilities. Thus far, only fully assembled units have been provided to Canadian plants.
• The all-new third-generation Nissan Leaf has been released with 40% more range as the model has focused on efficiency over everything to reach a 487kmEV driving range and a 0.26 coefficient of drag. It also comes with a redesigned body style closely aligned with today’s crossovers to add heightened consumer consideration for 2026MY.
• In the “CBB garage” this week was the all-new Audi A5/S5 Sportback which going forward replaces the traditional A4/S4 sedan. Highlighting new tech-driven interiors and greater average usability and practicality, the A5/S5 also add improvements to the 4 or 6 cylinder powertrains available for the new model year. Adding to the similarly improved Q5 compact crossover that was in the garage previously.
• Federal Minister of Environment, Julie Dabrusin said this week that, “there will be a consumer rebate” for EVs in Canada, but details of what it will look like in the market have yet to be determined. This news comes as the Federal Government has also leaned in on its ZEV mandate requirements, despite backlash from the auto industry.